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...The results highlighted the ability of Morgan Stanley’s wealth management business, which has been a driver of the bank’s growth in recent years, to add new client assets on a large scale....
...With about 40 per cent of its assets in fixed-income funds, Franklin could benefit from the peak-rates wave of money coming back into bonds....
...First under Schlosstein and then Weinberg, the firm has aggressively pushed into once-esoteric areas of alternative assets investing: helping private equity firms raise money and trade secondary fund slices...
...The share moves underscore challenges facing new Morgan Stanley chief executive Ted Pick as he seeks to chart new growth....
...But given its estimate of 3.7mn indices in 2018 and reported annual growth rates of ca 3–5 per cent since then, there are now well over 4mn indices of different stripes....
...Activity has slowed in 2023 but some parts of Goldman’s trading division, such as financing equity trades for hedge fund clients, has seen double-digit percentage revenue growth this year....
...“It’s the product of the 10 years of investments we’ve made and the 10 years we’re about to make that’s going to continue to see that kind of growth going forward,” Lake said....
...Goldman’s alternative funds are on track to raise $225bn from outside investors by the end of 2023, a year earlier than planned....
...down by costs tied to last year’s regional banking crisis after the Federal Deposit Insurance Corp imposed another round of fees on the nation’s largest banks to rebuild its depleted deposit insurance fund...
...hedge funds faring less well....
...The funds, which include those from BlackRock, Franklin Templeton and Invesco, have attracted net inflows of nearly $4bn, according to ETF.com....
...The Biden administration is giving carmakers an extra three years to meet aggressive emissions targets, bowing to pressure from manufacturers, auto workers and the oil industry in a move that could slow...
...Bank leaders said AWM is hitting targets ahead of schedule and building up their client offerings of “alternatives”: private credit, private equity and infrastructure funds among others....
...It offers funds of funds that give institutional investors access to private debt, infrastructure and private equity strategies....
...To keep up with the growth, there has been aggressive competition for talent and aggressive increases in fees....
...Since then, it has suffered from a sell-off in growth companies prompted by aggressive interest rate rises from central banks to fight inflation....
...The inflows into 11 new bitcoin exchange traded funds that received US regulatory approval in January went into reverse this week....
...Meanwhile, passive funds, including exchange traded funds, are enjoying fee revenue growth of €500mn in 2023 compared with the previous high in 2021....
...“Loan growth has slowed dramatically,” Morgan Stanley banking analyst Betsy Graseck wrote in a note to clients last week. “Our view is weak loan growth reduces NII growth into 2024.”...
...Donald Franklin London NW11, UK...
...In his memo, Orszag said that significant opportunities for growth would come from such areas as private capital and energy transition....
...Mobius spent the bulk of his career at Franklin Templeton, where he launched one of the world’s first funds dedicated to growth economies in 1987, and grew the Templeton Emerging Markets Group’s investments...
...In recent years, Franklin has developed a reputation as an aggressive acquirer when many middle-sized asset managers are being squeezed by the growth of index funds and the need to invest in technology....
...“We think the market has been too aggressive at the beginning of January by pricing in 1.5 per cent of interest rate cuts by the turn of 2025,” said McManus....
...President Franklin D Roosevelt enacted the NLRB in 1935 as part of a sweeping set of legislation amid a series of violent labour disputes....
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